3 Key Points —Adjusted net income fell 31.4% year-on-year to R$727 million (~$140M) in Q4 2025, driven by a R$198 million (~$38M) deterioration in net financial expenses and R$96 million (~$18M) in higher depreciation from newly commissioned wind and solar assets — while revenue grew 4.5% to R$3.42 billion (~$658M) and adjusted EBITDA slipped just […]